Amazon has for a while been among the world’s leading tech platforms. It has reorganized its entire operations using the related fields of Artificial Intelligence (AI) and Machine Learning. It uses AI in an approach titled as Flywheel which originates from the field of engineering. Its AI bot Alexa has been amongst its most successful innovations and now being applied across businesses. The company even has a cashier-less Amazon Go Store now. Amazon has leveraged its enormous data warehousing capabilities to track customer usage data. Its entire marketing strategy is directed by the business intelligence gleaned from such customer usage data. The customer experience has been refined as specific personalized communication now reaches individual users. Amazon has successfully managed to break down the silos within its organization to create a hunger for innovation throughout.

Source:https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/blakemorgan/2018/07/16/how-amazon-has-re-organized-around-artificial-intelligence-and-machine-learning/&refURL=&referrer

Uploaded Date:21 July 2018

Human history is at present on the cusp of Industry 4.0. This is a collective term applied to the present trends which leverages technological capabilities such as the Internet of Things (IoT), cognitive computing, Artificial Intelligence (AI) and business analytics. The Deloitte Global survey was recently concluded to reveal some interesting insights on how business leaders are addressing and leveraging the new trends. About three-fourths of those surveyed confirm that their company uses such technologies to ease their operations and processes. Far fewer are using it for marketing, customer support or product development. An even lesser of the investment is going towards talent management, manufacturing or shipping. While the investments on the traditional aspects of business are already paying off, CXOs are divided on what else could constitute worth investing in. Few of them affirm that immediate gains are a goal of using such tools. Most will only align with them if these can be integrated to the fundamentals of the business. Other target areas remain increase in customer engagement and improved returns.

Source:https://deloitte.wsj.com/cmo/2018/07/09/industry-4-0-technologies-perplex-cxos/?mod=WSJBlog?&mod=&mg=com-wsj

Uploaded Date:18 July 2018

Engineering design and product development are set for largescale changes over the next few years, promising to change the landscape. Fields such as AI, IoT and machine learning are witnessing newer adherents. This entire process can be clubbed under Engineering 4.0. Certain key building blocks need to be kept in mind while executing this transformation. A clear strategy needs to be in place for such implementations. Platforms need to be leveraged for data warehousing functions, so that more specific insights may be gleaned from this huge treasure trove. This data can further be leveraged by data scientists and software architects to develop new skills in-house. Digital tools need to be integrated into functions such as prototyping, and virtual teamwork. A cardinal rule to establish better talent management practices at present is having agile ways of working. Internal operations get smoothed out in this manner, while better products may be designed and customer relationships enhanced. The first phase in such implementation needs to be a diagnosis and pilot identification. Capabilities need to be built in so that deliverables can be mapped for instant impact. At the final stage, operations need to be scaled up to ensure Engineering 4.0 can be a reality.

Source:https://www.bcg.com/publications/2018/race-toward-engineering-4.0.aspx?linkId=51698013

Uploaded Date:04 July 2018

Since digitization began on a large scale, retail banking has been heavily impacted. Somehow, the impact on corporate was at a slower pace, but now gathering steam. Platforms, Blockchain and Artificial Intelligence (AI) have now begun to make a serious dent on the financing supply chain and international money transfers. A lot of this was effected by fleet-footed fintech startups, who were able to leverage this new ecosystem to their advantage. The BCG conducted their annual Corporate Banking Executive Survey 2017 to gauge the moods of bankers towards digitization. While a handsome majority envisages major digitization, few have a clear-cut corporate strategy to execute this. In this second wave of digitization, headed by corporate banks, a few main priorities need to be kept in mind. Focus must be on the customer journey. Data must be used for high-powered business analytics which will identify opportunities and help reduce costs. The operating model needs to be redefined towards setting up the digitally defined organization. A few recurring themes occur during this process, beginning with a focus on nonlending products. Lending margins too need be carefully managed. Proper investment needs to be made in the sales force. Asian market surprisingly has picked up much better than in Europe, while SMEs need greater attention from corporate banks.

Source:https://www.bcg.com/publications/2018/global-corporate-banking-2018-unlocking-success-through-digital.aspx?linkId=49472991

Uploaded Date:22 June 2018